Teacher Retirement System of Texas Sells 4,187 Shares of Crown Castle Inc. $CCI

Teacher Retirement System of Texas decreased its position in Crown Castle Inc. (NYSE:CCI) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,516 shares of the real estate investment trust’s stock after selling 4,187 shares during the period. Teacher Retirement System of Texas’ holdings in Crown Castle were worth $8,169,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock valued at $5,707,000 after buying an additional 5,144 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock valued at $3,665,000 after buying an additional 4,276 shares during the period. Inspire Trust Co. N.A. lifted its stake in Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock valued at $2,085,000 after buying an additional 4,000 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its stake in Crown Castle by 44.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 49,819 shares of the real estate investment trust’s stock valued at $5,193,000 after buying an additional 15,249 shares during the period. Finally, American Assets Investment Management LLC acquired a new position in Crown Castle in the first quarter valued at about $10,395,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 2.3%

CCI stock opened at $92.40 on Thursday. The business has a 50 day moving average price of $96.62 and a two-hundred day moving average price of $100.63. The company has a market cap of $40.24 billion, a price-to-earnings ratio of -8.69, a P/E/G ratio of 0.70 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, September 15th. Crown Castle’s payout ratio is currently -39.98%.

Insider Activity at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the transaction, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. UBS Group raised their price target on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Citigroup dropped their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Finally, The Goldman Sachs Group raised their price target on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.12.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.